Atria Wealth Solutions Inc. Boosts Stock Holdings in L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Atria Wealth Solutions Inc. increased its stake in L3Harris Technologies by 16.8%, holding 10,103 shares valued at approximately $2.12 million.
• L3Harris Technologies recently reported Q2 earnings of $2.78 per share, surpassing analysts' expectations, and achieved a revenue of $5.43 billion.
• The company declared a quarterly dividend of $1.20 per share, to be paid on September 22nd, with a dividend yield of 1.8%.

Atria Wealth Solutions Inc. increased its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 16.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,103 shares of the company's stock after purchasing an additional 1,453 shares during the period. Atria Wealth Solutions Inc.'s holdings in L3Harris Technologies were worth $2,115,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LHX. Clearstead Trust LLC purchased a new position in L3Harris Technologies in the first quarter valued at about $26,000. Beacon Capital Management LLC increased its holdings in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after buying an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after buying an additional 111 shares in the last quarter. Park Square Financial Group LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC grew its position in shares of L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after purchasing an additional 139 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 1.5%

LHX stock opened at $269.69 on Friday. The stock has a market capitalization of $50.46 billion, a P/E ratio of 30.13, a PEG ratio of 1.97 and a beta of 0.77. The company has a 50 day moving average price of $258.25 and a two-hundred day moving average price of $229.85. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $3.24 EPS. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LHX shares. Robert W. Baird increased their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Royal Bank Of Canada increased their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Truist Financial increased their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Citigroup increased their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $279.47.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at $39,472,018.92. The trade was a 33.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,061 shares of company stock worth $28,227,077. 0.72% of the stock is owned by company insiders.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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